The oil market is well balanced and there is no shortage of crude, OPEC's president said on Thursday, ahead of a meeting of the producer group next week that is expected to maintain supply curbs.
Blackstone Group plans to buy a 20 to 40 percent stake in chemicals company China National BlueStar (Group) Corp for up to $500 million, marking its first major investment in the world's fastest-growing major economy.
Campbell Soup Co on Thursday posted quarterly profit below analysts' estimates despite strong sales of its V8 vegetable juice, as the company overhauled its supply chain in Australia and Indonesia.
Shares in some of the biggest U.S. entertainment and media companies fell on Wednesday after Goldman Sachs downgraded its view on the sector to cautious from neutral due to concerns about the U.S. economic slowdown.
Apple Inc is expected to unveil new iPods this week, injecting fresh excitement into the product line at a time when defections by partners have shown cracks in its digital music dominance.
Stocks fell on Wednesday after data showed deterioration in the employment and housing markets, underscoring concern that problems of the subprime mortgage market were spreading to the wider economy.
South Korea's LG Electronics Inc introduced on Wednesday an updated version of its high-definition DVD player that supports both Blu-ray and HD DVD, offering a possible solution to the format war.
Yahoo Inc has struck a deal to buy BlueLithium, the fifth-largest U.S. online ad network, for $300 million in cash, in the latest move to consolidate the fast-growing behavioral ad targeting market.
Taiwan smartphone maker High Tech Computer (HTC) said on Wednesday it will launch 10 new PDAs and smartphones using chips from U.S.-based Qualcomm Inc by the end of the year.
Pending sales of previously owned U.S. homes fell by a surprising 12.2 percent in July as credit tightened up amid troubles in the housing and subprime mortgage sectors, a real estate trade group said on Wednesday.
Gold declined on Wednesday as investors took profits from a six-week high, but the metal remained supported by good physical buying and firm oil prices.
European shares fell on Wednesday with financial stocks lower on renewed concern about the extent of the credit crisis. This offset gains in oil stocks while investors turned cautious ahead of U.S. economic data.
World stocks slipped and Wall Street looked set for a poor start on Wednesday as investors cut back on risky assets and sought safety to assess how recent market turmoil has affected the real economy.
Oil slipped below $75 on Wednesday but remained within sight of an all-time high ahead of U.S. data expected to show a further tightening of crude stocks in the world's top consumer.
Hitachi Construction Machinery Co Ltd is targeting 70 percent growth in sales and a doubling in profit over four years as demand for earth-moving equipment booms in China, India and Russia, its CEO said.
The head of South Korea's Hyundai Motor Group, the world's sixth-largest auto maker, should hear on Thursday the result of his appeal against a 3-year jail sentence for fraud and embezzlement.
U.S. President George W. Bush says nuclear power is a key to tackling climate change, along with new energy technologies, but green groups want Asia-Pacific leaders meeting in Sydney to commit to greenhouse gas reduction targets.
U.S. President George W. Bush said on Wednesday China could help reduce trade imbalances by floating its currency, and a White House aide said Bush may discuss the thorny issue in a meeting with Chinese President Hu Jintao.
The world's leading toymaker, Mattel Inc, on Tuesday announced a third recall of Chinese-made toys, saying it would take back more than 800,000 units globally that contain impermissible levels of lead. In total, 522,000 U.S. toys and 322,000 outside the United States are being recalled.
Canadian Pacific Railway Ltd said it planned to buy the Dakota, Minnesota & Eastern Railroad Corp for at least $1.48 billion to expand its network and increase its access to U.S. Midwest markets.
Major automakers posted mixed U.S. sales for August on Tuesday, as executives cautioned the embattled industry was facing reverberations from a weaker housing market and the shakeout in subprime lending. Industrywide sales for August were tracking at 16.1 million vehicles on an annualized rate, down from 16.2 million a year earlier.
The U.S. Securities and Exchange Commission has made an official request for help to Germany's Justice Ministry in its investigation into suspected bribery and corruption at Siemens, a newspaper said.
